Daily table revenues averaged HK$775 million this past week, in-line with the prior week and well below the first two weeks of the month. The pre-Chinese New Year timing is clearly a factor. Our full month projection remains at +7-11%, probably a bit lower than consensus. So far, it doesn’t look like the smoking ban has had much impact, much to our surprise.
MPEL continues to have a strong month in terms of market share while LVS and MGM remain below recent trend.